Tagged: data

Stolen Appraisals Class Action - Theft of Appraisers' Data 52

Theft of Appraisers’ Data

…they charge appraisers an upload fee for the privilege of having their data stolen… I would never allow my data to be used for or by a service that specifically uses to create, modify or enhance products designed to compete with my professional services to the detriment of my business and profession. THAT is something that the Fifth Circuit Court of Appeals identified when they found that CoreLogic’s subsidiary FNC STOLE appraisers data after promising them data security. FNC stole data. We now know FNMA also stole data. Alamode is delving into individuals own personal databases in order to even...

Smart Exchange Not So Smart - Is Smart Exchange Really a Smart Idea? 64

Is Smart Exchange Really a Smart Idea?

Alamode recently launched Smart Exchange to its users. The idea is appraisers can see what others have stated as property characteristics and transfer that information directly into your report. The system is based on mutual sharing, so if you participate, you will share all your comparable data with everyone else that is using Smart Exchange and you can see their data. The last update from alamode installed the programming and changed the way the side by side screen looks. Now I must make a disclaimer here, I am in the over 50 category and my kids are all grown. It...

Artificial Intelligence (AI), Appraisers & Buggy Whips 4

AI, Appraisers & Buggy Whips

Most of these items cannot be ‘seen’ by Artificial Intelligence models or Big Data… Appraisers, The article below in Mortgage News Daily e-newsletter on July 3, 2018, got me to pound my noggin… for a couple of seconds at least. Actually, I think I need to do it again! Artificial Intelligence (AI) and ‘Big Data’ have been buzz words (and activity) for several years. And based on evidence in this article, lots of research and development leading to incorporation of AI is being done. While the article does not mention it directly, both Freddie Mac and Fannie Mae have instituted...

MISMO Blueprint... The Evil Octopus - AppraisersBlogs 4

The Evil Octopus

Appraisers, it’s not paranoia when ‘the bastards’ really are out to get you (end us as a profession). …Find each octopus and how they relate to our jobs. Look at MISMO Directors list… An Open Letter to Appraisers: Residential & Commercial This started as a response to a blog post by a respected appraiser concerning the influence of AMCs. During drafting it was clear that trying to explain AMCs was only part of the bigger struggles we face today. Picture a violent “all in” three-way gang fight among Octopi. Say a dozen on each side. That’s 36 Octopi x 8 tentacles...

Let’s just use the Tax Assessments...Tax Values just as Accurate as AVMs? 22

Tax Values Just as Accurate as AVMs?

In a head to head contest between tax values and AVMs for use in mortgage lending, I’ll take tax assessments every time… The battles rage on to decide who will take over the automated valuation process. There are big companies lining up to take over this massive profit arena. And, make no mistake, it’s all about the money. At the end of every discussion about AVMs verses traditional appraisals, it has less to do with faster or cheaper, or better, and sadly little to do with consumer protection. It has to do with who gets the profits that will be...

Clarocity Multi Million Dollar Garbage Technology vs. Appraisers 39

Garbage Replacing Appraisers?

If appraisers were to embrace such garbage, would the demise of this technology be sooner? …14.53 million dollar loss in 2017… Hey Clarocity, Give it up. It is time to face the facts! From Clarocity Public Financial Statements: 14.53 million dollar loss in 2017 9.49 million dollar loss in 2016 13.00 million dollar loss in 2015 5.43 million dollar loss in 2014 6.82 Million dollar loss 2013 4.95 million dollar loss in 2012 0.36 million dollar loss in 2011 1.19 million dollar loss in 2010 0.86 million dollar loss in 2009 44.8 million dollar loss in 2008 The 2017 Clarocity’s...

MISMO, Appraisal Data Mining, Hybrids, and Other Fraud Facilitators 14

Who’s to Blame?

Looking at who and what MISMO Directors are, is it a surprise that FNMA included language in basic appraisal forms resulting in appraisers having infinite liability and no ownership over their own work product IF they do work for FNMA?… European Union General Data Privacy Regulations (EU GDPR) may seem like a stretch for an Appraisers Blog topic, but please bear with me. For some time now, The Appraisal Foundation has been focusing on major international valuation issues other than real estate appraisals. IVSC is one of the bigger and most detrimental misdirection’s they’ve taken as far as impact on...

The Weird Science of Appraisal Technology - AppraisersBlogs 7

Weird Science

…technology to make a doll real? Remember the movie Weird Science where the two guys develop technology to make a doll real? If you’re my age, I’m sure you do. If not get to googling Kelly LeBrock. She did some amazing things. She looked great, was sexy and had odd powers that turned the older brother into a pile of emoji poop. Weird huh? Everything about her was amazing on the outside, but something was weird. That’s how I feel about new technologies that AMCS, Zillow and others have offered the public. On the outside, it looks great but what’s really happening...

Getting Rid of the Human Appraiser & Putting Appraisers out of Business 14

Are ‘No Appraisal’ First Mortgages the Future?

A human appraiser usually goes to a home… Appraisers, The article, linked here, purports to say that future mortgage loans will be done without using the services of a “boots on the ground” appraiser… "the human appraiser". Why??… because speed and low cost are paramount when people want to finance their largest investment in their life. From the article: “The appraisal process, which typically is not automated, remains a problem. A human appraiser usually goes to a home, takes pictures, makes sure there’s nothing terribly wrong with the structure. It takes seven to ten days to turn around, van den Brand...

Location Reporting - Where, 'Exactly', is Your Subject Located? 9

Where, Exactly, is Your Subject Located?

Appraisers, I have another ‘observation’ to discuss, based on separate reports where I found the same type of subject location reporting by different appraisers working in different areas, nowhere close together. This ‘observation’ concerns the reported physical location (on form page 1 Neighborhood comment section) of the appraised property verses its street address and ZIP Code. This is especially relevant to appraisers who work in Suburban and Rural areas. Street addresses and ZIP Codes are assigned by the United States Postal Service, for THEIR convenience and operations. Those addresses and ZIPs may extend far from city limit lines which is the primary...

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